Tsukada Global Holdings, a Japanese wedding venue and hotel operator, raised its stake in BT Kalakaua, owner of the Kaimana Beach Hotel in Waikiki, from 50% to 80% by buying part of its US partner's interest and adding new capital. The total was about ¥2.65 billion. Tsukada and BlackSand Capital had bought the hotel in 2018. The hotel The 125-room Kaimana Beach Hotel opened in 1963 on Sans Souci Beach, next to the Waikiki Natatorium on the stretch known as the Gold Coast. New Otani sold the leasehold hotel for $23.9 million in 2018, after the new owners had already bought the land beneath it. It reopened after a pandemic closure in December 2020 under its current name. New management Before the deal, the US partner BlackSand Capital ran the hotel as general partner while Tsukada only monitored it. The joint venture had sales of about ¥3.44 billion and an operating profit of about ¥158 million. After Tsukada took control, the owners hired Highgate to run the hotel day to day, with plans to renovate the rooms and reopen the second floor overlooking the ocean.
